Standard Chartered (OTCMKTS:SCBFF) Shares Gap Down – Here’s Why

Standard Chartered PLC (OTCMKTS:SCBFFGet Free Report)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $25.94, but opened at $24.36. Standard Chartered shares last traded at $24.36, with a volume of 4,788 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on SCBFF. Zacks Research cut Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research note on Friday, May 1st. BNP Paribas Exane raised Standard Chartered to an “outperform” rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods upgraded shares of Standard Chartered from a “moderate sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a research report on Monday, April 13th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Check Out Our Latest Research Report on Standard Chartered

Standard Chartered Trading Down 2.7%

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $56.60 billion, a price-to-earnings ratio of 12.15 and a beta of 0.68. The company’s fifty day moving average is $22.57 and its two-hundred day moving average is $22.90.

Standard Chartered (OTCMKTS:SCBFFGet Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Standard Chartered had a net margin of 13.63% and a return on equity of 11.07%. On average, research analysts anticipate that Standard Chartered PLC will post 2.26 EPS for the current year.

Standard Chartered Company Profile

(Get Free Report)

Standard Chartered plc is a British multinational banking and financial services company headquartered in London. The firm traces its modern form to the 1969 merger of the Chartered Bank of India, Australia and China (founded in 1853) and Standard Bank of British South Africa (founded in 1862), creating an international bank with deep historical roots in trade finance and cross-border banking. Standard Chartered maintains a global footprint and a long-standing focus on facilitating trade and capital flows between developed and emerging markets.

Standard Chartered provides a broad range of banking and financial services for corporate, institutional and individual clients.

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